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March Economic Review: Early year economic momentum about to be hit by the coronavirus – how long and how severe?

March 18, 2020

Economic Review: Brace for Impact (Page 3)

The U.S. economy had significant momentum heading into March, with the key data all showing strength. But financial markets have already taken a big hit and impacts on the economy are likely to be seen as early as the March data.

Financial Markets Review: Fear and loathing in the markets (Page 4)

Risk assets turned in one of their worst months of the expansion following concerns that the impacts of the COVID-19 virus on the U.S. economy would be severe. The resulting flight to safety pushed long-term Treasury rates down to record lows.

The Outlook: COVID-19 impacts dent the outlook, increase uncertainty (Page 5)

The combination of the already seen supply chain disruptions, potential impacts on and responses by consumers, businesses, and policy makers, as well as the oil price war will clearly have a negative impact on the economy. But the magnitude of the disruptions are hard to predict, so we have provided two likely scenarios rather than a single baseline outlook.

Go deeper with the full March report linked below.